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ThingsChain is a next-generation platform for IoT devices based on blockchain technology. It uses a multilayered architecture which provides a solution to the issues faced by current blockchains like lack of scalability and low transaction throughput rate.
The goal of ThingsChain is to create a trustless and decentralized system in which transactions are similar to real world transactions. ThingsChain accomplishes it by designing its network as a multi-layer blockchain with double consensus algorithm to allow transactions to be linked with additional information on-chain. Users, developers, node operators, organizations, enterprises, crypto-exchanges, partners and other blockchains.
- Radiating Blocks Graph: Radiating block graphs is developed based on DAGs. A DAG is a finite directed graph with no directed cycles. It consists of finitely many vertices and edges, with each edge directed from one vertex to another.
- Blockchains Packed in Blockchain: This structure will increase the storage capacity, process more transaction confirmations per second and provide more security. A two-layers structure will also decrease the size of the blockchain which nodes are needed to store.
- Cross-chain Communication: Cross-chain Communication is expected to be used with high frequency in IoT applications. Thingschain’s technology is motivated to design cross-blockchain communication in a fast and cost-effective way.
- Proof of Truth: ThingsChain will use a proof of truth consensus mechanism which will ensure that only correct data is stored in the NestChain. It’s a consensus mechanism which allows only real transactions or information confirmed by supernode to be stored in Nestchain.
- Airdrop: 40%
- Team members: 25% (Locked at least 6 months)
- Advisor + Partnership: 10% (Locked at least 4 months)
- Marketing + Ecosystem: 10%
- Reserve Fund: 15%